Welcome to 5 For Friday!
5FF is a new feature of MSoLife.com and includes the best FIRE links of the previous week.
Occasionally I will also include other links to other topics if I find them interesting and/or helpful. Enjoy!
The 5 Best FIRE Links
Jason Fieber’s post talks about geo-arbitrage, which is a topic near and dear to my heart. Essentially, it’s the concept that your money goes further in different locations. This is especially true overseas.
Jason found that as his life’s circumstances changed, his options did as well. I look forward to reading his updates from Chiang Mai, Thailand. It’s a popular destination for expats and it sounds like he’ll be having a great time there.
This post highlights a core tenet of the movie/book “Fight Club”. It discusses that while consumerism alone leave us empty and without purpose, working toward Financial Independence can provide a worthwile one. However, the authors caution against becoming overly-militant and seeing ALL consumerism as wasteful. This is a great point to keep in mind on this journey. Check out the post and let me know what you think!
This post is from one of the Grand Poobahs of the FIRE community, Mr. Money Mustache. He was instrumental in making me see the error of my lavish ways and turning my financial life around. Pete (I don’t know him but I’ll pretend to for cool points) advocates against sitting around and being entertained in this post. It’s better to do something productive. He and I share an utter disinterest in watching sports or a lot of TV shows, but I’ll readily admit I could be more productive.
Everyone’s seen the power of compound interest on a portfolio over time, right? In this post, Mr. AE applies the power of compounding to things like making 1% more salary or saving 1% more money. Where can you improve by 1% and change your life? This post also includes a handy FI calculator if you happen to need one. One thing that I love about this post is that it’s a reminder that small changes as a matter of habit have gigantic effects. It’s much easier to make small changes than it is to put in Herculean efforts at the last minute!
This post involving an actual actuary brings up an interesting concept: are you financially prepared if you live a long life? It ties in cleanly with my latest post about Social Security, or the lack thereof. One of the major issues that the SSA and pensions have had is underestimating the longevity of adults in the USA. This is a must read.
That’s All, Folks
That’s all I’ve got for you this week. Go forth and conquer the weekend as a slightly wiser version of yourself!
Which post(s) resonated with you most this week? Is there a post that you loved that you think I should check out? Let me know!